Li Auto scores 21.8% YoY jump in Feb. 2024 vehicle deliveries

Shanghai (Gasgoo)- Li Auto, a prominent new energy vehicle maker in China, announced on the last day of February that it delivered 20,251 vehicles in the second month of 2024, representing a 21.8% year over year.

By the end of February 2024, Li Auto's cumulative vehicle deliveries had amounted to 684,780 units.

Li L8; photo credit: Li Auto

Mr. Li Xiang, chairman and chief executive officer of Li Auto, stated that despite the impact of Chinese New Year and the depletion of some Li L series models due to preparations for transitioning to new models, there was a significant increase in average daily delivery in February (excluding the eight-day Chinese New Year holiday period) compared to February 2023.

Regarding the new product roll-out plan, Li Auto launched the highly anticipated Li MEGA MPV and the 2024 Li L series models at the spring launch event on March 1. The Li MEGA, described as a groundbreaking model tailored for multi-generational households, is designed with outstanding product strengths to effectively address the persistent challenges related to range anxiety in battery electric vehicles (BEVs). Furthermore, the 2024 Li L7, Li L8, and Li L9 models will be equipped with enhanced functions and features to better cater to family users.

Li Xiang expressed the company's goal to achieve a rebound in monthly deliveries to 50,000 vehicles in March with the release and deliveries of these new models.

According to the financial results the company released last month, Li Auto said its annual revenues amounted to 123.85 billion yuan, marking a remarkable year-on-year spike of 173.5%.

Its vehicle sales for the same period reached 120.29 billion yuan, demonstrating a substantial YoY hike of 172.7%. The boost in revenue from vehicle sales can be primarily attributed to the increased number of vehicle deliveries.

Li Auto delivered 376,030 vehicles through 2023, reflecting an impressive surge of 182.2% from the previous year.

For the first quarter of 2024, the company expects its vehicle deliveries to be between 100,000 and 103,000 units, representing a surge of 90.2% to 95.9% from the first quarter of 2023.

The company also forecasted that its total revenue in the inaugural quarter of this year would be between 31.25 billion yuan and 32.19 billion yuan, reflecting an increase of 66.3% to 71.3% from a year earlier.